I would imagine that a LOT of the schools that are in session would end up getting their insides ruined really fast. Even if we are talking about they only activate when you set the alarms off for a drill and have stopper covers over all the pulls, you won't be able to stop ALL false alarms so the interior would definitely need to be renovated after a while.

There have been people working in buildings when the fire alarm sounds worrying that the sprinklers would soon activate because they've seen it in movies.

How a movie could be accurate about sprinklers is if a showed a fire that was small and set off the fire alarm due to a smoke detector detecting the smoke and eventually got large enough to activate the sprinkler over it. Just the sprinkler over the fire, not all of them.

Some areas have required new houses to be built with fire sprinkler systems. There are people who have objected to it who think that sprinklers are prone to false alarms like smoke detectors are. They say a false alarm with a smoke detector is bad enough imagine one with a sprinkler. But really it is very rare for a sprinkler to accidentally activate.

Lots of flooding and damage, restoration companies would be having field days! We had a big riser pipe burst once in a 27 story building (right on the top floor too). The damage was so bad, they had to move everyone out from the 28-24th floors, as all apartments had to be gutted and redone, and a lot of hall/wall damage all the way to the 6th floor. Took about 6-8 months to bring everything back to normal, and that was with a full time crew working from 8-5 everyday.